(NASDAQ: AMD) stock is falling in Tuesday's trading. The semiconductor company's share price was down 5.4% as of 10:15 a.m. ET, according to data from S&P Global Market Intelligence. Meanwhile, the S 500 index was down 0.7%, and the Nasdaq Composite was down 1.3%.
The broader market is seeing negative momentum in conjunction with rising macroeconomic concerns. Wall Street seems to be worried that inflation may not be under control yet, and Home Depot's recent earnings report intensified those concerns.
Home Depot reported quarterly results before the market opened this morning and reported a 3.5% decrease in same-store sales. The retail giant is viewed as a bellwether for the economy at large, and the company's management specifically stated that persistent inflation was causing customers to be more cautious. Why is this bad news for AMD stock?
Source Fool.com